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Multiple Choice Questions

Recently a band was to perform in India However there was widespread criticism of the high cost of i...........

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    Recently a band was to perform in India. However, there was widespread criticism of the high cost of its tickets so the organizers decided to offer the following discounts:

    Tickets bought (in lots) 6 7 8
    Discount 6% 7% 8%

    The tickets were originally priced at Rs 25,000/ticket. Any additional tickets (above the lot sizes) were billed at the original price.A college group wants to buy 13 tickets, what is the minimum average ticket price they would need to pay (approx.)?

    23,375

    Incorrect Answer

    23,367

    Correct Answer

    23,380

    Incorrect Answer

    23,400

    Incorrect Answer
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    Explanation:

    There could be 3 possible relevant scenarios:
    1) 8 tickets @ 8% discount + 5 tickets (no discount)
    => Average discount = 8 * 8/13 = 64/13 = 4.9..
    2) 7 tickets @ 7% discount + 6 tickets (@ 6% discount)
    => Average discount = (7*7+6*6)/13 = 85/13 = 6.5.
    3) 12 tickets @ 6% discount + 1 ticket (no discount)
    => Average discount = Certainly less than 6%
    So, Scenario 2 is applicable.
    Therefore, Average ticket price ≈ 25000–25000 * 6.5/100 = 23,375.
    However, the discount is little greater than 6.5%,
    So, the answer is 23,367.

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